DataVerify Harnesses BuildFax’s Database of 88 Million Building
Permits as Part of its Arsenal of Fraud Prevention Tools

DataVerify Harnesses BuildFax’s Database of 88 Million Building
Permits as Part of its Arsenal of Fraud Prevention Tools

Database empowers mortgage lenders with valuable insight to aid in validating changes to structures and determining property valuations

Austin, TX,  (October 5, 2010) – BuildFax today announced that DataVerify, a leading provider of fraud prevention and decision management solutions for the mortgage industry, will be bundling BuildFax’s National Building Permit dataset within its DRIVE^® (Data Risk Intelligent Verification Engine) anti-fraud platform. This new addition to the platform will strengthen DataVerify’s ability to assist mortgage lenders in validating changes to a structure, which could dramatically impact the valuation of a property. 

BuildFax’s database currently covers 88 million permits on properties in more than 4,000 U.S. cities.  It will allow lenders to greatly reduce the amount of time spent calling individual building departments to request permit data on a specific property.

"Combining BuildFax’s robust permit dataset with DataVerify's comprehensive nationwide listing data, and multiple listing information provides lenders with the most comprehensive data source and corresponding analytics for collateral assessment," said Kent Johnson, Vice President of DataVerify.

 “Never before has the demand for actionable intelligence on changes and risk factors at the individual property level been so important in the mortgage lending world,” said Holly Tachovsky, President of BuildFax.  “BuildFax is pleased to partner with an industry leader like DataVerify to equip mortgage lenders with the information they need to help them better understand not only the structural changes themselves, but also the valuation amount tied to those changes.”

About DataVerify:
DataVerify is a leading provider of fraud prevention analytics, predictive technology, and decision management solutions for the mortgage industry. An industry innovator, DataVerify’s single-source, customizable platform helps streamline loan processing and mitigate lender losses. For more information about DataVerify, call 866-895-3282 or visit the company online at www.dataverify.com.

About BuildFax (www.buildfax.com):
BuildFax, a division of Builderadius, is the creator of the first and only national database of historical building permit data.  Co-headquartered in Austin, Texas and Asheville, North Carolina, BuildFax has created a proprietary property intelligence engine that contains building and permitting information from 4,000+ cities and counties throughout the country.  Local building departments in each of these towns across the country inspect construction to make sure it meets quality and safety standards; as such it is an absolutely critical part of the public safety infrastructure.  BuildFax is then able to consolidate this information into the dataset, which is a tremendous asset to professionals in the insurance, financial services, inspection, and appraisal industries, as well as buyers and sellers of property. As the best and only source of a structure’s “life story”, the BuildFax database continues to grow, currently covering over 60% of the U.S. commercial and residential building stock with 1.1 billion data points.

Media Contact:   Kathleen Kenney Lucente, Red Fan Communications, (512-217-6352) or email:  Kathleen@redfancommunications.com.